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than me. >> obsession to raise taxes is not going to solve the problem. >> the right seems to be imploding. >> i'm proud of the campaign mitt romney and i ran. >> he looked less like monty hall and more like monty burns because he wants to inflict pain on the republican. >> the implosion is going to happen very, very slowly, day, by day, by day. >> i'm proud of our party. and i'm proud of mitt romney. >> it seems right here. >> we've seen some movement over the last several days amongst some republicans. >> we can probably solve this in about a week. it's not that tough. >> the next 72 hours are critical. >> today's wednesday and the house is going to leave today. ♪ surrender surrender but don't give yourself away away ♪ >> in case you needed reminding, it's 21 days to christmas, but just 27 days to the fiscal cliff. the president is john boehner are facing off for what couldçe a down to the wire nail-biter of a fiscal fight. indeed, the stakes are so high, the pressure so intense, that the house is calling it quits for the week. giving themselves another much deserve
plan contains 800 billion in new taxes, half of what the president was looking for. more importantly, the gop plan keep tax rates the way they are now. we know that is a deal maker for the tie-breaker for the presidents. joining me now, the man some democrats blame for the fiscal cliff impasse, grover norquist, president of americans for tax reform. and the many and as a finger to about fixing it, michael reagan, founder of the reagan group. i want to start with the republicans plan that they put on the table. they have been accused of doing nothing and all. they come up with their own plan which includes 800 billion in revenue from closing loopholes and eliminating deductions and then 1 billion in spending cuts. it is being rejected from the get go by democrats. grover, what do you say? >> i think the republicans had a very good plan called lorraine budget. they all voted for it in the house. it saves $6 trillion over the same decade, and they did not raise taxes and all. i really think of the president is not interested in compromising, and not sure it is wise with the republicans
♪ imus in the morning ♪ >> attention, stock holders, there is a tax revolt brewing and you are going to win. good morning, everyone. tens of billions of dollars in extra dividend payments have been announced and the money will be paid this year, so, you avoid the expected dividend tax increase next year, that's a tax revolt sticking it to the president and the treasury. and here is a forecast that "varney & company" got right. the obama team wants to raise tax now, promises of entitlement reform later and ignore the debt. that's the fiscal cliff deal of the day and the market likes it and the numbers are 5, 16, 22, 23, 29, and the powerball is 6. you lost. the government won. "varney & company" is about to begin. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, . . >> . stuart: it's a modern day tea party. it's a revolt led by corporations. the wall street journal reports 173 companies announced they'll pay special dividends for shareh
, the speaker is claiming he's met obama's demand for higher taxes for the rich. that's good. he agreed in principle the rich must pay more. number three, there's talk for the republican leaders that they could vote to continue the tax cuts for the 98% now and therefore avoid the fiscal cliff and put off for now the top 2%. and the question then, let the debt ceiling not take effect. a tax cut delayed i argue is a tax cut avoided. joining me with the republican defense highly tauted fan of the eagles, ed rendell and alex wagner of msnbc's "now." governor, i want you to read what's going on here. first speaker boehner defended the gop's tax proposal saying it does take a bite out of the rich but president obama held firm to tax rate hike on the wealthiest. let's listen to the back and forth. >> revenues we're putting on the table are going to come from, guess who? the rich. there are ways to limit deductions, close loopholes and have the same people pay more of their money to the federal government without raising tax rates, which we believe will harm our economy. >> let's allow higher r
position on tax rates but the president won't budge. he told him, if he has an alternative plan, he ought to put that forward rather than focusing on entitlements. the white house will send tim geithner to capitol hill for a meeting. yesterday the president met with ceos including at&t, goldman sachs, coca-cola and caterpillar, many of whom said after the meeting they emerged hopeful a deal could be struck to avoid the fiscal cliff. in another meeting with middle-class americans, president obama said he believes the framework for a deal could be in place before christmas. >> and i'll go anywhere, and i'll do whatever it takes to get this done. it's too important for washington to screw this up. now's the time for us to work on what we all agree to, which is let's keep middle-class taxes low. that's what our economy needs. that's what the american people deserve. >> white house also turning to social media has a twitter hash tag to spread its message. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voi
of the doubt. they just don't know when and solve problems. we shouldn't send them more tax revenue. this is exactly why. they may try to help people, but they are terrible about it. they never actually succeed. when you look at what going on. neil: when they are out there to see what's going on, i have a couple of friends of the show that residents that were out there instead. >> right. neil: i think that is what is concerning me. getting it backwards i think new jersey, something like $10,000 up to $40,000 -- we have to vent for the money back and we have to wait for someone in a building in washington dc to decide where the money is going to be distributedwhen we should just keep it in the house. you know, keep the taxes the same, but let new jersey pulled onto a larger version of it. neil: melissa? >> you know the faces, you know how to help them. when this country relied more on the community, your friends, your church -- the people around you. it work better. neil: it's like wih school shootings and all that. gun advocates, whatever you do, don't use sothing like bad. climate
, have ridden the train of dividend paying stocks. if we go over the cliff and dividend taxes -- >> not so much. well over 60% of mutual funds are held in qualified plans. >> that doesn't matter. >> it does matter. >> 40% of the investors are going to be subject to 43.4% dividend taxes. those shares go down in price, and it affecting people who have pension plans. >> maybe, but a lot of people like insiders and other types of long-term institutions are not going to sell their stock based on a 15% dividend tax rate. >> you don't think they're going to sell if dividend taxes go to 44%? >> i don't. i'm in the minority here. the stock market has done better when the dividend tax rate was considerably higher than it's been for the last ten years. >> but 44%, christian? >> well, it is certainly a lot. a lot of it is tax shelter. it's not going to hit everybody and have quite the impact everyone expects. >> ron and rick, we haven't forgotten about you guys. how do you play this while we go through this volatile period before the end of the year? >> i think the market's finished disco
will see their taxes go up january 1. i assume that does not sound too good like the lump of coal you get for christmas. that is a scrooge christmas. >>neil: the president taking republicans out for being the scrooge this christmas, but the villains, taxes will go up on everyone if they do not give in and hike them on the rip. the white house calling for $1.6 trillion in tax hikes upfront and $50 billion in new stimulus spending and speaker boehner is not impressed. >> they want to have this extra spending that is actually greater than the amount they are willing to cut. it was not a serious proposal. >>neil: consider that republicans should simply walk away from the talks. risks be damned and byron york on how that would play out. >>reporter: i don't think it would look good for conservatives, the accusation would be they dumped out after the president's very first offer. so it seems to me to make more sense for the republicans to make a counteroffer of their own making just as serious an offer as the president made, maybe they could offer up the ryan budget, or more extensive entitlemen
for progress of this moment. the clock is ticking down. end the year for mandatory tax hikes set to kick in. welcome to new hour of "america's news headquarters." i'm eric shawn. >> i'm jamie colby. more talk of the miscall cliff is coming. house speaker john boehner in an exclusive interview with "fox news sunday" saying, "we're nowhere" in fiscal cliff talks with democrats. treasury secretary tim geithner saying and telling chris wallace republicans must accept the tax hikes for the wealthy to reach a deal. a deal is what we are after. peter doocy live in washington with more. peter, tell us first, speaker boehner -- the big problem right now with the white house proposal that was just presented. >> jamie, speaker boehner says he was flabbergasted when the treasury secretary geithner came to capitol hill and told him what the president wants. and this is why. >> the president is asking for $1.6 trillion worth of new revenue in ten years. twice as much as he has been asking for in public. he had stimulus spending in here that exceeded the amount of new cuts he was willing to consider. it w
should republicans respond? and ahead of january's big tax hikes, companies and investors are cashing out. including one of president obama's biggest supporters. plus, as susan rice makes the rounds on capitol hill, we'll look at who could make up the national security team in president obama's second term. ♪ >> i am ready and able and willing and excited to go ahead and get this issue resolved in a bipartisan fashion so that american families, american businesses, have some certainty going into next year. >> i'm disappointed in where we are and i'm disappointed in what's happened over the last couple of weeks. the fiscal cliff is a serious business and i'm here seriously trying to resolve it and i would hope the white house would get serious as well. >> welcome tt colonel, editorial report, i'm paul gigot, not a meeting of the minds between president obama and house speaker john boehner where talks to end the fiscal showdown ends. the president for his park took his place for the public and called for america and little cuts to entitlement spending something the speaker says must be p
of us are hit with tax increases, takes it across the board a cut of $55 billion. people have it in their power to avoid the so-called fiscal cliff aren't negotiating, they're not debating right now, so many of them simply leaving town. but there's more going on than meets the eye. let's bring in our senior congressional correspondent dana basch, she has the latest. >> reporter: there's so much political theater around here right now, you could say tickets. one of today's acts was the house leaving. lawmakers streaming out of the capitol hill, racing to their cars to get to the airport and go home. it's a scene you usually see on a thursday afternoon or friday morning, not wednesday at noon. >> good morning. >> house republican leaders told members they're free to leave, because they have nothing to vote on. >> i understand that you are saying legislation has been put on the floor. when it comes to just pure optics of the house leaving with the fiscal cliff right in front of us -- >> i'll be here and i'll be available at any moment to sit down with the president to get serious
payouts to avoid taxes. it is like a new stimulus package for the markets. what happens when the calendar turns to 2013. the mba commissioner reddy to find the san antonio spurs were sitting some of their stars. a huge controversy in the basketball world. we will start here with the markets. lauren simonetti on the floor of the new york stock exchange in for nicole petallides. >> let's take a look at yum brands. $74.75. they get about half of its revenue from china. not looking so good. traffic in china stores down about 9%. that is a big deal. the company issuing a negative outlook for china. lowering their guidance for all of next year as well. this is a loser today. as for all stocks, mixed, cautious. we do have markets of except for the dow. connell: you are right about the end of the month. we have 31 days on our countdown. it seems like the fiscal cliff situation will never end. monica crowley want to tell us what will happen here in washington. >> nobody really knows what the next move will be. both sides are pretty firm in their position. for anyone who thought that barack obama m
dollar deficits throughout that time. tax policy hasn't changed during that time. tax policy is exactly the same. you hear in the newspaper all the time, mr. speaker, the bush tax cuts. i don't know that that has meaning anymore. in 2001 and 2003 we did do some dramatic changes to tax policy. president obama extended all of those changes in 2010. that's the law of the land still today. tax policy has been exactly the same over this continuum. what has changed, mr. speaker, what has changed is the spending. the reason deficits have grown not one, not two, not three but almost four times larger than the previous record deficit in american history is not because tax policy has changed, it hasn't. it's because federal spending policy has changed. and that's what we have to get our arms around here in this body. what i show going forward, mr. speaker, put a little square around the annual budget deficits that have been run during the first four years of the obama administration, but i also project what the congressional budget office believes, that's a nonpartisan budget planning group we ha
be breaking down in washington's effort to head off a series of automatic tax hikes and spending cuts that will hit americans hard in the new year unless something is done to stop it. welcome to "america live," everyone, i'm megyn kelly. treasury secretary timothy geithner headed to capitol hill today, in fact, he's still there, meeting with congressional leaders on both sides of the aisle. but after his sit-down with the speaker of the house, john boehner, mr. speaker boehner came out and told reporter that is the treasury secretary offered no new substantive plan and would not address the issue of spending cuts at all. as we reported on this show yesterday, it is no longer clear that the white house even wants spending cuts in this initial deal. it wants solely tax hikes, or at least that's all that it's been talking about x that now -- that dichotomy -- is becoming a big issue. here's the speaker. >> two weeks ago we had a very productive conversation at the white house. but based on where we stand today, i would say two things. first, despite the claims that the president supports
's accept to believe you for a handful of republicans in congress to hold middle class tax cuts hostage because they don't want tax rates on upper income folks to go up. >> let's not kid ourselves. i'm willing to move forward in good faith. our original framework still stands. >> andrea: the republican leader mitch mcconnell said he burst in laughter when tim geithner outlined the president's plan. what's next? rush limbaugh and charles krauthammer want republicans to walk away and let obama own the mess. >> the best thing to do is back out of this and let obama and democrats have it and do what you want to do. that will happen anyway. i don't know about you, i don't want my fingerprints on this. >> this is almost unheard of. what do they expect? they think the republicans will cave on everything. i think republicans should walk away. >> eric: so on tuesday, i remember -- >> andrea: i floated the idea and i said why can't republicans vote present? let obama have his bill or not show up. a lot of members wouldn't show. they would book dentist appointment or pull a hamstring and let him g
obama. the different in dollars. the president wants $800 billion more in tax increases. the republicans want approximately more a trillion dollars more spending cuts. that's the difference between the two sides just in dollar terms. there is a difference between the two sides in terms of principle. the principle centers on higher tax rates, yes or no. speaker boehner many latest offer is raise $800 billion mostly from the wealthy by limiting deductions. the president says, no, don't want that. we want to tax the rich with higher tax rates on the rich. we have a dollar difference, a difference in principle. martha: we are hung up on ideology here. if you can get the money one way and it produces a long lasting change to the tax code which both sides say they want, what seems to be the problem? >> reporter: it's ideology. the president one the elect, he says he won it on taxing the rich. he want to win the debate. whether it's the best solutioner to the economy is an entirely different story. this is a political and ideological argument and we'll see who wins. martha: there is a couple wa
for taxes. >> could have been for taxes, but,,and the but is very important, if there's a frame work december 31st at midnight, it will be just that. the markets will, i think, react predictly, and that's not positive. if there's a recession because there's not a tax plan, we'll be hurt. >> that's the wild card; right? how the markets reagent to it because we don't know. >> we don't. >> impossible to predict. they could sell off. going over the cliff for a week or two is not the end of the world if there's a deal done, if you request remove potential market reaction. >> employers are not hiring. story after story about small businessmen with obamacare and uncertainties, i'm not going to invest. >> will they get it done? i'm with lori, it was a lot of show and gamesmanship. >> i think there's going to be a frame work achieved, but not meaningful debt or deficit reduction, no reform to entitlements, and i don't think there's tax reform. there's a deal in form, but i think there's more to get done. >> are we done? >> ask another if you want. >> do they really have to raise taxes? people
take president obama's view, extend bush tax cuts for all but the top 2%. that's a sign some republicans may be open to higher rates for the rich. >>> is it possible negotiators could learn something from the most important movie out there right now "lincoln." doris kearns goodwin joins us. >>> let me finish with how lincoln outlawed slavery for good and how he did it using politics. this is "hardball," the place for politics. >>> how's this for irony? mitt romney has finally captured 47% of america. remember this video that sunk the romney campaign? >> there are 47% of the people who will vote for the president no matter what. 47% who are with him, who are dependent upon government, who believe they are victims, who believe the government has a responsibility to care for them. >> well, the cook report points out romney shared a popular vote of this country has fallen to, you guessed it, 47.4%. as expected to fall further, and settle at the 47 mark, exactly. we'll be right back. [ woman ] . progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your wo
are done raising taxes on the rich, how about raising the overall tax base. encouraging a simple and fair tax code that gives all-americans a stake at the game and likely a greater interest in the game. i myself like a flat tax or a fair tax. just not this tax nest we have right now. i say set three different rates. as you go up the income ladder there are fewer writeoffs and more pro -- progressive. commit to doing all of this. sign in your own blood. you are out, you are fired on the spot. your word will be your bond. you don't honor it, your fan knee will be out the door. politicians, what i am telling you is stop acting -- start acting like a super hero. start thinking about the citizens of got them and -- gothem and america who counts on you. the red phone is ringing. >> i regret to say, sir, batman and robin are not at present available. >> what? surely you must be jesting. >> uh lass, sir, i am not. batman is enjoying one of his infrequent vacations. >> do you want to let america and the world down? that's not what super heros do. that's not what i'm going to do. i am putting my pe
cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue. but without raising taxes on the wealthy. in a letter to the president, leading republicans compared their plan to one erskine bowles drew up last year. >> not even close. >> he rejected that connection and the white house, of course, is hitting the road. we'll get to that in a moment. but here's my question. i've been watching the coverage of this and reading it. and there's a lot of liberals who were like, he won, ha, ha, they're so arrogant about it, it's hard to like them. because it's just not attractive. but he did -- >> yeah, he won. >> and he is going to the american people with this. and why can't the starting point of these negotiations be about the tax rates and go from there. why are we at square one? and why is this on the president at this point? since he won. i understand the first four years being kind of bruising. >> right. >> but -- at what point does he have the right to draw a line in the sand? >> so he has every right to dr
republicans and democrats traded verbal fire over who goes first. republicans said they'd offered up new tax revenues, but have heard nothing from democrats about spending cuts. democrats said republicans were dragging their feet. we begin with darren gersh reporting even a visit by treasury secretary timothy geithner did little to change the mood on capitol hill. >> reporter: house speaker john boehner emerged from his sit- down with the president's negotiating team to declare he was disappointed. two weeks after the election, the speaker said democrats have yet to show what he called "adult leadership." >> right now, all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president and congressional democrats to tell the american people what spending cuts they are really willing to make. >> reporter: that's not how the white house sees it. the administration called the republican position that tax rates should not change implausible after the election. and the white house warned republicans against using the debt limit as leverage to
to go over the fiscal cliff. there will be some sort of resolution. they'll come up with some tax cuts, some breaks in spending, and probably kick the can down the road on a lot of it. i love the way this market is acting. it's not selling off with all the bad news, all the bickering, all the bad words on each side. you've got to love the way that this market is holding up here. doesn't mean investors need to be carefree, but overall, it looks like the market is setting up with a lot of negative sentiment out there. looks like there's a lot of opportunity for a big run higher once we get some form of resolution. i really believe we're going to get it. >> you think by year end? >> i really do. i think they want to go home for christmas. they're not going to want to not go home for christmas. you can always count on politicians to do the right thing when all other options have been exploited. they're going to finally get there because they have to. they're not going to solve 100% of it right away. >> jump in, abbigail. >> i think it's too early to be bearish or bullish, for that matter.
will not hold more meetings or face to face until the republicans agree to increase the tax rates. so what was on the paper yesterday was the idea to still increase revenue without increasing the actual tax rate by getting rid of the deductions and loop holes. that is not acceptable . it au pairs a hard line stance now and the meetings are off. >> brian: they talked about a two-step process. maybe we can leave the tax rates except the horrible people that make a lot of money. leave those tax rates in place and do the hard stuff in the second half . year and of course, we have the, the debt ceiling that has to be raised in a month. if the president gets his way and forces the hand of republicans to accept something they will not forget that and he will have another battle with the republicans when the ceiling has to be raised. the president is indicating to some that there is wiggle room from 35 to 39 percent and willing to accept 39 percent. >> steve: and in the jack kemp awards dinner. we saw two faces that could vy for the republican nomination in 2016. paul ryan and marco rubio. they we
way. it's the set of automatic spending cuts and tax hikes that can only be averted if our nation's leaders are able to display bear bones competence and middle school-level maturity. so is there a deal? >> there's, of course, no deal. >> of course! is there a prospect for a deal? >> there's not a prospect for a deal. >> of course! but the ongoing talks. >> there aren't even very many talks going on. >> you're killing us! give us something. >> but for the first time, there are numbers on pieces of paper from both sides. >> numbers on paper! >>> good morning. it's wednesday, december 5th. welcome to "morning joe." live in the nation's capital. this is exciting. and you know, i said, let's do a show from washington, d.c., because they get so much stuff done there. it's like silicon valley. and going there when steve jobs was really bringing apple to the forefront -- >> a happening place. >> it is. it's where things happen. that's why we're here, steve rattner. >> washington is the place. with us on set, economic analyst steve rattner. also political editor and white house correspond
business leaders he is cheering for their success. tax hikes for the wealthy saying there will be no deal without tax rate increases. melissa: 11,000 now out of work at citi. slashing jobs taking a billion dollars charge as it repositioned oppositions. charlie gasparino tells us it is even more cuts are on the way. lori: new warnings and ethanol blended gasoline. joining us on whether you should be worried about what you put into your gas tank. let's get up to speed, back the floor of the new york stock exchange and nicole petallides. economic data on the service industry. nicole: looking good, lori and melissa. up 125 points. after two days of selling we are seeing some market action to the upside. we are above the 13,000 mark, well above that. 13,076. the nasdaq squeezing it out. concern for apple, but financials are doing well. let's take a look at the group. laying off 11,000 workers, that is the plan. a new ceo in place and he wants to make his mark. up 6.5%. it is under pressure, nowhere near $700 for the all-time high in september. the latest findings other actually going to use th
taxes, no specific cuts according to "the new york times" and "wall street journal." actually, $50 billion more in stimulus spending and no specific spending cuts. it was a nonstarter, and they knew it was a nonstarter. richard wolffe, my question to you is, why did the white house decide to have this as their opening volley when they knew the response would be a negative one that they drew? >> well, they put on $400 billion in medicare cuts. so there were some specifics in there. but was it a hardball opening? yeah, of course it was. the question is, what's the counteroffer, right? they're trying to not just provoke a no. they want the counteroffer. and the counteroffer is, what is it? there isn't one. >> it looks like right now it will probably come back now as $800 billion in new revenue, probably higher specific cuts. >> you forget one extra demand, of course, which is ban the debt ceiling piece. that's huge, right? that's, like, unilateral disarmament. we're going to offer you to unilaterally disarm. i like that one, too. because they were sensible. let's face it, the markets
does not include a tax increase on the so-caldwell thee but does contain $800 billion in revenue through tax reform, another $600 billion in health savings and much more. all told, the net savings amount to around 2.2 trillion dollars. the white house responded to this letter by saying that the president is, quote, willing to compromise but not on the subject of making job creators pay more in taxes. however, what our tax and spend commander-in-chief fails to understand is that putting money into the hands of you, the american people, is the single best way to spur economic growth, and it's not just people like ronald reagan who understand this principle. bill clinton famously said the era of big government is over and the end of wel welfare as we know it. why? because government is not the answer. government is the problem. there was that other iconic democrat, the one that occupied the oval office in 1962. he spoke of the benefits of cutting taxes. president obama, i hope you're watching this. >> this can be the most important step we could take to prevent another recession. th
-called fiscal cliff if taxes are not raised. >> the administration prepared to go over the fiscal cliff? >> absolutely. there is no prospects in agreement that doesn't involve the raise going up on the top 2 percent. >> house speaker bane another a boehner and president obama have been talking by phone. not much progress was made. boehner says if he doesn't agree with the propose sal he has obligation to submit one of his own. >> the missing girl battling leukemia is safe and is being treated in new mexico. she was taken out of a hospital in phoenix. her mother took her. doctors are worried she could potentially get a deadly infection. the girl's father claims the hospital was to blame for a different infection which cost emily her right arm. he's refusing to tell police where she is in mexico. both parents could face criminal charges. >> shock, disgust and fear spread quickly on the campus of the university of -- one details the exact moment they realty lied they were in a major crisis. it reads subject emergency the shooter at the aurora mall last night was james holmes i am worried a
the irs is about to hit millions of americans with new taxes to pay for the health care law. the new taxes hit certain people's investment income, capital gains and dividends, and they also impose a new income tax separate and apart from the one you already pay. joining me now, the president of the american commitment, and he's been joining us on the health care law for months now. phil, this is very interesting because we had the supreme court rule that obamacare was a tax, and there was a debate about whether it really did impose new taxes or not. it's very clear the so-called rich in this country, people who makeover $250,000 as a family or $200,000 as individuals, are going to have their investment income hiked irrespective of any fiscal cliff talk. this is all thanks to obamacare? >> yeah, that's exactly right, megyn. there was a surtax in the health care law, supposedly to pay for medicare, but they raised it -- they raided the money out of medicare before it even arrived to pay for the new obamacare spending. it's 0.9% additional medicare tax on wages of high income earners, and it
! >> eric: yes, the dreaded fiscal cliff. tax hike, spending cut and sequestion ration, whatever they are. belly flop the economy at once. comfortabling the know that d.c. is on top of it all. alex simpson, former senator and the guy that everyone thinks is a lifeguard at the fiscal pool. ♪ ♪ >> eric: okay, beckel is gangnam style. good to know we're in good hands but get serious, folks. >> any word from karl rove? >> despite what we're telling you, it's over. romney lost. >> i guess it's time i explain, the good people, the upcoming fiscal cliff. >> the economy is the car and rich sman a driver. don't give the driver many. they will drive you over a cliff. just common sense. >> eric: not exactly. the only way to save the republic is for us to let the president go off the fiscal cliff. taxes will go up. but mandatory spending cuts get enacted. that seems to be the only way dems will cut a dime. let's save the place for the kids. do you agree? >> greg: i do. >> bob: i think you're crazy. >> greg: funny that bob and i agree but for different reasons. fiscal cliff is a horrible med fore.
like we are today with the defense authorization bill but also other critical issues, including tax issues and spending issues and that's what i wanted to address today. we -- we have a lot of challenges and instead of pulling together, we seem to be pulling apart. and i'm specifically referring to some of the suggestions by some in the majority that we consider controversial and partisan rule changes that would marginalize minority members and doing it in a way that breaks the current rules to change the rules. and what i mean by that is, it takes 67 votes to change a rule here in the united states sena senate. that's a rule, by the way, that dates back to 1917. and the reason that's in place is because obviously, you know, folks wanted to force the majority and the minority to work together to make those rule changes. you don't get a two-thirds vote without that. and i think that's important, that the basic rules are ones that are agreed on. we tend to change parties a lot around here. in fact, we've shifted back and forth between republicans and democrats seven times in the past
one month to come up with a plan to stop the across the board tax hikes and the major federal spending cuts from taking effect. i'm gregg jarrett. >> heather: i'm heather childers. some of the early optimism for a deal seems to be fading. steve is live in washington with more. >> reporter: one month away from that so-called fiscal cliff. there appears to be very little movement toward any kind of deal. president obama is using the bully-pulpit to appeal to the american people to push for immediate action to push the tax cuts for everybody except for those earning more than $250,000 a year. in his saturday address, he stressed the urgency of the situation. >> if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a typical middle-class family of four will see income taxes rise by $2200. we can't let that happen. a families can't afford it and neither can our economy. >> reporter: republicans led by house speaker john boehner says he should quit campaigning and take care of the business at hand. republicans say they are willi
in the fiscal cliff debate. tax rates spike and spending slashed. congress is breaking for the holidays in two weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be raised on the revenue side. let's listen to
taxes from going up. and asking the public for help in getting through to the ones he sees as naughty. the historic vote at the u.n. puts palestinian hopes for statehood back in the headlines. but will it bring their dream any closer to reality? i'll ask the palestinian prime minister. and if pictures don't lie, you may be watching a power ball winner learning the good news. but who is he? wolf blitzer's off. i'm joe johns. you're in "the situation room." >>> republicans and democrats now have just 32 days to make a deal or your taxes are going up and more than $1 trillion automatically will be cut from vital federal programs like defense, education and housing assistance. as referred to as the fiscal cliff. and when it comes to doing something to avoid it, house speaker john boehner bluntly told reporters today, there is a stalemate. for his part, president obama is trying to break that stalemate by asking voters to put more pressure on the republicans. cnn chief white house correspondent jessica yellin and chief political correspondent gloria borger join us right now. gloria, guess
dug in his heels today insisting on tax revenues for higher income earners but at a hint of compromise he said he would consider lowering tax breaks again next year. mr. obama wants to raise taxes on individuals who make more than $200,000 a year and on couples making more than $250. he said this today. the way to recovery. bill whitaker reports from california. schools close as the flu bug spreads. elaine quijano reports on where the virus is woshs and how efgtd the vaccine can be. and what city in america. >> raise revenues that are sufficient to balance with >> the issues is that we are going to have to raise revenues that are sufficient to balance with very you have to cuts that we've already made and we're going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. >> pelley: that, the republican house speaker said in response, will never work. the republican counter offer cuts spending and raises taxes for no one and nancy cordes has the state of play as of tonight. nancy? >> reporter: scott, a dispute erupted today over whether neg
the right solution for solving our issues of middlele class tax cuts and the fiscal deadline and make sure we move in a very positive direction. with that i yield back my time. the speaker pro tempore: the gentlelady yields back. the gentleman from texas. the gentleman reserves. the gentleman from michigan. mr. conyers: mr. speaker, we have no further speakers. i am prepared to return the balance of our time. the speaker pro tempore: the gentleman. mr. smith: we have no further speakers on this side. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the question is, will the house suspend the rules and pass bill h.r. 6620. so many as are in favor say aye. those opposed, no. in the opinion of the chair, 2/3 of those voting having responded in the affirmative, the rules are suspended, the bill is passed, and without objection the motion to reconsider is laid upon the table. for what purpose does the gentleman from texas seek recognition? mr. smith: mr. speaker, morph that the house suspend the rules and pass h.r. 6602, to make revisions in title 36, uni
said today that he would rather see tax rates go up than close loopholes because then he thinks he can get tax reform passed in the future. a little bit of wishful thinking. >> i know we have to raise revenue. i don't really care which way we do it. actually, i would rather see the rates go up than do it the other way because it gives us greater chance to reform the tax code and broaden the base in the future. >> jennifer: so he's not giving in. he's just bargaining now to see what he can get later. and then we've got the fourth stage which is depression. which is often accompanied according to elizabeth kubler ross by wistful thoughts of better times. newt gingrich is planted firmly in this stage. he said he longs for the 1990s when republicans led by him of course, were, in his estimate aches, republicans were more able, more powerful, able to get president clinton to bend to their will or at least so he said on piers morgan last night when he said "we earned president clinton's respect by closing the government
. analysts citing fears about a hike in capital gains tax in 2013. rick santelli has been talking about this, though, the things that were up in 2012, those are the things being sold now, whether that be gold or any number of assets that rose appreciably over the course of the last year. we'll be talking about the future of apple and the outlook for its stock a little later this morning with jonathan geller of the boy genius report. >> good old bump on the road on the way to a trillion dollar market cap. got to 600 pretty easily. and now it's back at 500. above 600 i guess. tough to get to a trillion dollar market cap. cisco got to 600 billion once, too. it's at 100 billion. apple still at 500. we talked about are they going to come out with the chartreuse slightly smaller mini ipad. and that's going to be the -- a lot of people waiting in line for that one. >> i do have to say, i'm in the market for a mini ipad. >> not for the max ipad? >> no, i want something smaller to carry around, but bigger than my phone. >> i have a hard time seeing my wife's iphone, so the ipad was a solution for tha
compromise, you lose the core constituency that elected him. >> let's at least get the tax cuts extended for the middle class and deal with the other part later. some people may be happy to kick the can here, at least in the near term. >> i think the president is -- do you think the republicans can deliver on the republicans? i think lloyd blankfein. coming back to that quote to dave cody, terrific guy, he said listen, i find myself in the radical middle. compromise is radical right now. the stock market is saying a deal gets done by jan 1. >> yes, it is. that's what yesterday was all ball -- will lawmakers arrive at a deal to deal with the fiscal cliff? rand paul is defending the northwest pledge not to raise taxes. but the rim rally months on, this time black berberry is on rise. nobody said an inkjet had to be slow. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combina
.6 trillion in new revenue from tax hikes on the rich. the white house is giving $400 billion in savings from medicare and entitlements. there's also a request for at least $50 billion in infrastructure spending, mortgage relief, and other stimulus measures. none of this is a surprise to the republicans. this is what president obama campaigned on. it's also what republicans have been presented behind closed doors for weeks. "politico" reported on the deal taking shape behind the scenes. it includes most of the same details the white house has in its proposal. according to "politico" house republican leaders recognize president obama holds the high cards and the public is likely to blame republicans if negotiations blow up and the new year begins with a fiscal disaster. the facts didn't stop speaker boehner from claiming the white house is holding up negotiations. >> majority leader and i just had a meeting with the treasury secretary. it was frank, and it was direct. i was hopeful we'd see a specific plan for cutting spending. >> the treasury secretary's proposal seems pretty specific. it eve
class tax cuts. >> i think it's important congress act now, i mean right now. >> they're still not paying they're fair share? the people working have to pay even more in order to cover the incompetent errors by the spenders over all these years. >> greta: former speaker of the house newt gingrich joins us, author of the book "victory at your town." why are you telling house republicans to, quote, get a grip? >> i think this whole fiscal cliff language is designed to maximize a sense of fear that's nonsense. the very same people, the congress and president, who invented the fiscal cliff -- this is all an invention -- could break it down into 12 foothills. there are 15 foothills, or 20 foothills. they could tackle one problem at the time. i agree with what i understand senator jeff sessions has said, and i think he'll be on your show later, this ought to be out in the open. we're rushing toward a secret deal made in secret meetings where nobody will know what's going on, and then people will be told, boy, if you don't vote for this, we'll go over the cliff. well, i think there ar
to republicans late yesterday courtesy of tax cheat geithner calls for the following: 1.6 trillion dollar tax increase, increasing rates on incomes over $250,000. 150 billion dollars in new public stimulus spending of which 50 billion would be spent next year. another extension in unemployment benefits, 30 billion. new power to raise the federal debt limit without congressional approval. in other words, an obama blank cheque. that is not all. he also wants the estate tax to be levied at 45% on inheritances a step even democratic senators are balking on this current is 35%. the obama offer contained no serious cuts, no serious reforms to entitlement programs and no serious proposals of tax reform this president had the gall to count savings more than one billion dollars from ending wars in iraq and afghanistan no one has proposed war spending over the next decade that includes cuts to domestic programs agreed to last year, fuzzy washington math. what this is obama's propose last year which received zero votes in the house or senate this is disguised as a so-called compromise offer. don't be fo
it to sign this bill so people's taxes don't go up. >> the adult in the room continues his campaign to cut taxes for the middle class, and john boehner keeps shooting spit balls. >> it was not a serious proposal. >> tonight the latest on the stalemate and the democrats' upper hand. mitch mcconnell gets downright ridiculous with his demands to weaken medicare. one of the architects of obama care dr. zeke emanuel responds tonight. >>> house republicans pass an immigration bill democrats say is divisive and inferior. today, congressman javier on why the latino community won't be fooled. >>> the nation's first fast food strike is a historic protest for workers' rights. tonight, what you need to know about the lowest paid workforce in the country. >>> good to have you with us tonight, folks. thanks for watching. president obama knows his opponent is on the ropes and he's not letting up. the president took his tax plan agenda on the road today. he went to a philadelphia, pennsylvania, toy factory just north of philadelphia to focus on the people who will be hurt if the tax rate extensions are no
. timothy depite gite saying we'll raise taxes 1.6 trillion and washington will increase taxes on capitol gains and we would like to say we like the power to raise the debt ceiling any time we want for the executive branch which is unconstitutional. >> steve: it is not 39 or 35 percent. all nonstarters in the world of negotiation. >> gretchen: two things to discuss. why is it tim geithner doing the discussions inted of the president of the united states. let me know if you have an answer for that. and the reason they are asking for this stuff. this is the way negotiations work when you win the presidency. you are walking around with your chest puffed up. this week, nothing will happen. until you cum come up right to the cliff. >> brian: this president is making a mockery of negotiations. he offered a initial trike with under 30 days until the cliff happens . sos the unserious attempt to get anything done. republicans ippedicated we will raise revenue. but the nuggets that are inside and his decision to go to pennsylvania and talk to a tinker toy and scrooge and coal in your pocket is an i
be no deal to avert an economic plunge unless republicans agree to increase taxes on the wealthiest americans. good evening. i'm gwen ifill. >> woodruff: and i'm judy woodruff. on the newshour tonight, kwame holman has the latest on washington's impasse on taxes and spending. >> ifill: then we examine nato's decision to send patriot anti- missile systems to turkey, as fears grow that syrian chemical weapons could cross the border. >> woodruff: jeffrey brown talks to mcclatchy newspapers' egypt correspondent nancy youssef about the massive antigovernment protests in cairo today. >> ifill: we continue our series of conversations about the fiscal cliff. tonight we hear from economist paul krugman. >> i don't think there's going to be much of a deal. i think there's going to be a kind of... there will be an outcome. >> woodruff: from haiti, fred de sam lazaro reports on the efforts to stem a deadly cholera epidemic that began after the 2010 earthquake. >> ifill: and ray suarez talks to author and journalist tom ricks about what he describes as the decline of american military leadership. >> today
that most people like the president's idea of only raising taxes on other people. specifically, the top 2%. the problem is according to the congressional research service, the math doesn't add up. that tax hike would only give $678 billion in additional revenue over ten years, now, remember, we're $16 trillion in the debt. now, if we go with howard dean's idea, that gets us $2.8 trillion or about 17% of our debt. adam davidson is the cofounder of planet money and he did the math. he wrote in "the new york times" a while ago, a set of numbers that has stuck with me ever since that increasing the middle class tax burden 8% would have a bigger impact than taxing millionaires at 100%. of course, once you tax millionaires at 100%, there's nothing else left to get them the next year. even bill clinton agrees. here's what he said at a conference i saw him at back in may. >> i think you could tax me at 100% and you wouldn't balance the budget. we're all going to have to contribute to this and if middle class people's wages were going up again and we had some growth in the economy, i don't think t
will get smaller. in 28 days your taxes will go up. coming up, a new proposal from republicans to keep us from plunging over the fiscal cliff. >>> three storms in one week. the west coast is getting hammered by rain. a live report minutes away for you. good morning. welcome to "early start" this tuesday morning. i'm christine romans. >> i'm zoraida sambolin. it's 5:00 a.m. in the east. >>> we begin with breaking news. iran claiming it has captured a u.s. drone. this is video from state television in tehran it shows two revolutionary guard commanders examining what appears to be an intact scan eagle drone. we don't know if it's the one they claim they captured. moments ago a u.s. defense official told barbara starr the u.s. navy has fully accounted for all unmanned vehicles operating in the middle east region. we have the latest developments now from cairo. a u.s. source says that if the iranians do have something, it is not an actively operating u.s. navy drone. what would that mean? could this actually be a fake? >> it could be. it's not clear right now, but iranian officials have a diff
geithner presented an offer to the congressional leaders including the stipulation that taxes go up on the wealthy. the headlines tell the story. "the washington post" wrote, "obama offers plan for cliff, not compromise." "the new york times." "gop balks at white house plan on fiscal crisis." and "the wall street journal," obama's cliff offer spurned. i want to bring in joanne reed and molly ball, political reporter for "the atlantic." good to see both of you. good morning. >> good to be here. >> mitch mcconnell, we are told, literally laughed at the white house's offer. and if you listen to speaker boehner, it's not going very well. take a listen. >> i'm disappointed in where we are and disappointed in what's happened over the last couple of weeks. but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> and the speaker tweeted, "how serious is the white house about avoiding the fiscal cliff?" reports suggest, in some cases, not so serious. and also, joanne, what is the strategy
. both sides are digging in their heels on raising taxes on upper income earners. the white house proposal includes $1.6 trillion in taxes over a decade, 400 billion for medicare, 50 billion in stimulus spending and the end of congressional control over the debt ceiling. susan mcginnis is in washington with more. good morning to you. >> reporter: hey, terrell, good morning. the president's opening salvo there was not well received by republicans. they balked at his plan. he's taking his message to middle class americans at a factory that makes toys. it's a trip republicans are calling an irritant. president obama leaves the white house this morning to head to a toy factory in pennsylvania. he'll tell americans the fiscal cliff will cause holiday shopping to plummet. >> let's give a christmas present to the american people. >> reporter: but the mood here on capitol hill is anything but festive. both sides say the tax hikes and spending cuts due to kick in at year end are unacceptable, they just don't believe each other. >> members of his own party seem quite comfortable of sending
the average middle-class family would have to pay about $2,000 a year more in taxes. house speaker john bain of lands the stalemate on the obama administration. he says they are not taking republicans seriously and plans to close loopholes and lit it deductions without raising taxes. >> i realize of the president may not agree but if there is another way to get revenue from upper income americans that doesn't ruin our economy why don't we consider it? >> we won them to tell the american why they won't do it. >> the democratic controlled senate has are the agreed to extend the bush tax cuts for incomes under $250,000 but let the other tax cut expire. it is predicted their rugby at least a short-term deal released before the end of the year. >> of when it comes to a president's second inauguration at the crowd tends to be smaller. that will be the case again this january. the cross the present obama as inauguration on january 21st will be close to 800,000. that is the estimate right now. that is down quite a bit from the 1.8 million people crowded the national mall and 2008. >> i think that is
putting his foot down. he says no tax hikes for the wealthy, no deal. america hits that fiscal cliff in 27 days and that means tax hikes and deep spending cuts if the democrats and the republicans can't come together in some kind of a deal and with just ten days remaining until congress is scheduled to go home for the holidays, the clock ticking. here's what he told bloomberg news. listen. >> we're going to have to see the rates on the top 2% go up and we're not going to be able it to get a deal without it. >> we start this morning with white house correspondent dan lothian, he's in washington, d.c. okay. so who's got the ball in their court at this point then, dan? >> well, you know, i think the house gop, they have presented their counteroffer which white house spokesman jay carney is referring to as, quote, magic beans and fairy dust. we expect that house republicans will keep putting pressure on the white house to engage, push for more details on what the white house will accept when it comes to additional entitlement cuts. but i think what's unclear is what kind of negotiating is goin
the deadlines that we're facing on jobs and taxes and investment. this is not some run of the mill debate. this isn't about which political party can come out on top in negotiations. we've got important decisions to make, and they'll have a real impact on businesses and families all across the country. our ultimate goal, our long-term goal is to get our long-term deficit under control in a way that is balanced and is fair. that would be good for businesses, for our economy, for future generations. i believe both parties can and will work together in the coming weeks to get that done. we know how that gets done. we're iffing to have to raise a little more revenue. we got to cut on the spending we don't need, building on the trillion dollars of spending cuts we've already made, and if we combine those two things, we can create a path where america is paying its bills while still being able to make investments and the things we need to grow like education and infrastructure. so we know how to do that, but in washington nothing is easy, so, you know, there's going to be some prolonged negotia
offer would overhaul the tax code and raise $800 billion in new revenue, it would also seek $600 billion in health savings and $200 billion for revising the cost of living increases for social security. the net savings would add up to $2.2 trillion over ten years. now, again, this is the republican counterproposal to the plan that the white house has already put out. speaker john boehner has said that this is something that is much closer to the bowles-simpson proposal. erskine bowles saying the gop offer does not represent the plan, he says both sides are kind of far away from it at this point and that it's now up to negotiators to figure out where the middle ground is today. >> bowles said that the mid point that i used back in -- this is where we were last year. so used the mid point of the negotiations, but it's in longer the mid point i guess. >> he also said -- he is a testimony, but he has separated himself from the administration by saying that they thoo should have taken more of their proposals more seriously. he also said last night that you will see higher marginal tax rates.
in the trench warfare. i asked speaker boehner about the $250,000 bush tax cuts, all the polling shows the country will think republicans are to blame if we go over the fiscal cliff, six out of ten voters in november said the tax rates should go up, how much longer can he afford to politically keep this pledge and he said look, you heard it there, the rates when we close the revenues, loopholes will go up on the rich people. that still is the mindset. what's interesting, is talking to republicans leaving the house conference gop conference this morning, there is a lot of support for speaker boehner. there aren't cracks like there were during the debt limit where he had a faction that was lining up against him wholeheartedly. even after yesterday we heard all the stuff of fallout from the conservative right against his position, that conference this morning was pretty supportive of speaker boehner and seem to be -- say something we say way too often here in washington, d.c., doubling down on the speaker's approach, at least here in early december. >> everyone seems to be doubling down,
or the one in fr the la from the last two years? telling everyone again up to 250 you get the tax break? all the same stuff.the last two? telling everyone again up to 250 you get the tax break? all the same stuff.last two yea? telling everyone again up to 250 you get the tax break? all the same stuff. same tone, same people. >> did you see this, obama is flexible on highest tax rates. >> administration official. white house officials later signaled that. he didn't signal it in anything he said. >> i spoke to a couple who were at the meeting yesterday, some of the executives, who felt, and this is like the implied feeling that he was now more willing to deal on the highest rate. >> did you hear anything about spending cuts or entitlement reform? >> two conversations are taking place. one if the public trying to get them behind you. the other is whether you're actually saying to the people you're negotiating with. and when you saw the signal, it was like, okay, maybe they'll get to that, i don't know, 37% or 500,000 or something. what we had been talking about two weeks ago. maybe that's where
politico. the major sticking points remain the same, congressional democrats want to raise taxes on the highest income earners while keeping the current lower tax rates in place for the middle class. republicans want to extend tax breaks at all levels. good morning and welcome to "washington journal." we are going to be talking about the fiscal cliff, the statements the house speaker made about being a stalemate and what the president said during his trip to a toy factory in pennsylvania. here are the numbers. you can also reach out to us by e-mail and twitter and facebook, all of the social media as. on twitter the addresses @cspanwj, facebook.com/cspan. more from the article by jake sherman with the headline " fiscal cliff." he writes -- let's go to the phones. the first call comes from debbie in flint, mich. on the line for democrats. caller: i think they need to pass a law that these guys did not get paid. if i go to work and did not do my job, they will not pay me. they have not done their jobs in the years. they need to listen to the american people. we picked barack obama
tax cuts hostage simply because they refuse to let the tax rates go up on the wealthiest americans. >> the republicans call this a bait and switch. >> alisyn: we'll debate. >> dave: one massachusetts town rolling out the welcome mat to long islanders for christmas tree lighting after the they refused to budge on the holiday event. the p.c. please. >> should you tip your garbage collector or how about your child's teacher? we have tips for tipping or the barista at starbucks. >> dave: no! sorry, ladies and gentlemen. >> "fox & friends" begins right now. ♪ >> are you supposed to tip the teacher. >> dave: some are, some are not. >> you want to err on the side of tipping and is it too much. do you tip the garbage man or the postal employee. you leave a bunt cake outside. >> alisyn: yes, money. they want money. >> dave: we'll get into it later, but it's tough because it used to be you tip someone for extraordinary service. >> alisyn: right. >> dave: now you just tip someone please. >> alisyn: so they don't egg your house, that's why you're tipping. >> and go to ff weekend and fire it
for congress and the white house to act, to stop the tax increase and punishing spending cuts, that deadline is coming up quicker than you may realize because did you know, congress plans to end its current session on december 21st? check your calendar as we did today. that's two weeks from friday. that means that under congressional rules any agreement, any legislation to fix this whole mess would have to be filed here by december 28th. here's the kicker. the president currently plans to leave town the day before that, on the 17th of this month. so the yearly obama trip to hawaii is set to start a week from next monday. you feel me here? see where i'm going? the window closing faster than folks think. what are our decisionmakers doing right now? among other things they are apparently sending signals through the media. republicans saying time to get moving. the president saying there is a deal to be had fairly quickly if the republicans come around to raising taxes on the wealthy. let me give you the president first. >> -- good faith offer to avert the fiscal crisis, and that offer included
they are going to block a deal because they want to extend tax cuts. what you can expect from the and the a willingness to sit down and explore what the best way to get through this is. it's in the interest of the american people. >> that was followed by a fierce response from grover norquist, the man behind the no tax hike pledge embraced by many in the gop. >> every republican who had impure thoughts has to go back to the drawing board. they have just been told there are no real reforms in this budget. $1.6 trillion in tax increases. >> joining me is eleanor cliff and david dreker thank you for being here. so eleanor, we have timothy geithner who says there will be a deal before the end of the year but it doesn't look like anyone is willing to budge. is that your take away? >> i think there's a rhythm to these negotiations. and right now each side is staking out their optimal position. the republicans reportedly laughed at the proposal. if they can extract concessions from the president, then they can look like they have gotten something in the deal. so i think we're in the
to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. why does my mouth feel dryer than i remember it to be? there are more people taking more medication, so we see people suffering from dry mouth more so. we may see more cavities, bad breath, oral irritation. a dry mouth sufferer doesn't have to suffer. i would recommend biotene. the enzymes in biotene products help supplement enzymes that are naturally in saliva. biotene helps moisten those areas that have become dry. those that are suffering can certa
minister of italy, he comes out with a package two thirds tax hikes, one third tax cuts. and i remember saying do you think this will work, they're raising the v.a.t. tax and i understand italian household debt isn't that high, but they were trying to tax their way out of a massive debt problem and in fact receipts went down, consumption fell to 4.25 annualized rate and the situation got much worse. today italy has zero nominal gdp grets. and they're funding at 4.5%. that is a bad business model. spain same story. so when you bnk our package and what's been offered so are far which appears like $1.6 trillion in tax hikes against $400 billion of entitlement cuts over time, that's an even worse mix than the two-thirds/one-third european structure that really has gotten a negative reaction. >> how much is because of the mix and how much of it just this is what austerity looks like? >> is the money in capping deductions or raising marginal tax rates? it's in capping deductions. but that's tough because you have to tell someone no like the housing lobby or charitable contributions. >> cappin
as the nation edged closer toward a so- called fiscal cliff that could raise taxes by year's end. we begin with a report from newshour congressional correspondent kwame holman. >> we're going to have to see the rates on the top two percent go up. we're not going to be able to get a deal without it. >> reporter: in his first interview since the election, president obama rejected a proposal from house speaker john boehner. he spoke on bloomberg television. >> unfortunately the speaker's proposal right now is still out of balance. i'm happy to entertain other ideas that the republicans may present. but we are not going to simply cut our way to prosperity or to cut our way out of this deficit problem that we have. we're going to need more revenues. in order to do that, that starts with higher rates for the folks at the top. >> reporter: the president did say today he would consider lowering rates again for the top two percent next year as part of a broader tax overhaul. the house republican plan envisions $2.2 trillion in deficit reductions over the next decade. $800 billion would come from ne
with president obama digging in his heels about raising taxes on the wealthiest. senior administration official telling "the wall street journal" there will be no new offers until republicans allow tax rates to go up on top earners. this morning, the president accusing the gop of brinksmanship while republican senator orrin hatch said democrats are asking for too much. >> it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the weltiest americans. >> what he proposed this week was a classic bait and switch on the american people. a tax increase double the size of what he campaigned on. >> joining me now nbc white house news correspondent mike viqueira. what can you make of this? fiscal cliff talks are they a nonstarter? >> i tell you, you listen to everything that is being said publicly. you see the president there. it's clear that the election, yes, is over. but the campaign goes on here. you know, i really believe that there two things that are clear from the white house to republicans. we are still in pr
republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. like grover is stuck with this pledge he made everybody take which is that they have to go over the cliff because they obviously will not ever say the word tax. they will only say revenue. i'm stuck speaking to many more ceos than grover norquist is. he thinks it's silly. he thinks ceos are silly. i
if republicans refuse to raise taxes on the 2%. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans -- remember, it's only 2%. the size of the problem in some sense is so large, it can't be solved without rates going up as part of that. again, i think there's broad recognition of that reality now. >> one fallback option republicans are reportedly considering is to accept tax cuts for the middle class, allow rates to go up for the wealthiest, and then start the fight over again during debt limit talks early next year. yesterday at a business roundtable of ceos, president obama took a hard line, warning his opponents not to consider this strategy. >> if congress in any way suggests that they're going to tie negotiations to dell creting votes and take us to the brink of default once again as part of a budget negotiation, which, by the way, we have never done in our history until we did it last year, i wil
confidence, which would help economic growth. punishing success will not do that. temporary tax increases don't do that as well. >> greta: it's interesting, almost seems like a game of chicken to see who's going to blink first. i listen to what you say, and i understand it, i understand the broad principles, but i don't have the nuts and bolts of it. and i hear the president say he's ready, willing and excited to have bipartisanship, but i don't know what his plan is either. >> again, his budgets, four budgets, yet to propose a solution to save social security or medicare. can't even get democrats or house senators to vote for his plan. we haven't seen his plan. that's a real tragedy. the president, it's incumbent on him. he won, time for him to govern, show the american people his balanced plan. he talked about it all the time. we know where he wants to increase revenue. he raised revenue about $75 billion, but where's he going to get the other 93% of deficit reduction? really what is his plan for restoring growth to the economy? miserable economic growths under his policies. >> greta: we're
in for a few minutes. it's wednesday, december 5, 2012. will republicans cry uncle on taxes? with the holidays approaching, last night house spaeker john boehner took a break from the fight. . >> god bless us, everyone. and from my family to yours merry christmas. >> five, four, three, two, one. good job. >> well, that was one countdown clock. this morning the president is going to tell a graup of ceos that businesses need the certainty that middle class families won't see their taxes go up it at the end of the year. the president made it clear in his first interview since being re-elected on bloomberg news that he does not plan to budge on the idea of raising tax rates for the wealthiest 2% of americans. >> unfortunately it is still out of balance. $800 billion worth of revenues but he says he'll do that by lowering rates. when you look at the math, it doesn't work. we're going to have to see the top 02% go up. we're not going to be able to to get a deal without it. >> leaving open the possibility that they could come down again next year as part of comprehensive tax reform. >> let's let thos
. basically making the case for his tax cuts but he had a chance to make a toy factory joke as presidents are want to do. he said he's got a naughty and nice list back in washington. he's got certain congressmen in mind to be on that naughty and nice list. but take a listen to what the president said making the case that this is all about tax cuts for the rich and republicans wanting to preserve those. >> what's riding on this debate. this is too important to our economy. it is too important for our families to not get it done. it's not acceptable to me and i don't think it is acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> then one of those congressmen who's presumably on the president's naughty list today, speaker john boehner, who came out just a few minutes after the president spoke. he talked here on capitol hill a little bit about the stalemate that he sees these talks being at this point. sort of a glum take here from the speaker of the house. obviously
will see their taxes automatically go up at the beginning of next year. >> reporter: the president wants congress to extend the bush tax rates for everyone making less than $250,000 but wants taxes to go up for everybody else, and will take the message to pennsylvania avenue on friday. not to be outdone on the pr front the house republicans hosted a group of nervous business leaders, who are pushing serious spending cuts to supplement expected tax hikes. >> i am hopeful, but wouldn't put me down anywhere near the optimistic category. we have a long way to go, very few days to get it done. >> reporter: in the first republican break inside the house, the oklahoma congressman tom cole endorsed the short-term approach. >> in my view, we all agree we won't raise the taxes on people making less than $250,000, we should take them out of the discussion right now. >> reporter: but the idea was quickly shut down. >> the goal is to grow the economy and cut spending. you won't grow the economy if you put tax rates on the top two rates. >> there was no serious discussion by the white house on entitle
, alphonse demat tow filibuster in 1992 over an extremely obscure provision of tax law that he thought was going to screw over new yorkers. rich, you wanted to reresponsibility quickly before i go to the senator. >> yes. i wanted to say i'm not a professor of constitutional law, but i can read the plain language of section 5 which says that the senate gets to write its own rules, and rules about debate, the length of debate are well within that constitutional competence of the senate. >> sure. and it gets to majority rule, by majority rule. this document. >> that brings us to the constitutional option which is to say at the beginning of a senate they adopt the rules and they can by a majority of rules. i want to bring in jeff merkley. senator, good morning. you are not trying to scrap the filibuster. tell me what your goal is in the reforms that you have proposed. >> yes. we're trying to make the filibuster actually work the way it was intended. that is, that folks have to make their case known before their colleagues, before the american public. that they can't simply obstruct, use a
the current system and waiting to fix it later. yeah, no one wants higher taxes, but we're not in a deep reception right now. we absolutely are going to die if things start to chang and in fact, the underlying real problem, the growing deficit on the path to greece, the goal gets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity
the called fiscal cliff of mandatory tax increases and spending cuts is to you just 30 days away. but judging by today's talk in washington democrats and republicans are hardly any closer to finding a solution. here's anna werner. >> reporter: a week closer to the december 31st deadline, treasury secretary timothy geithner told bob schieffer any potential deal will have to include a tax hike on the upper 2% of income earners. >> there is no way to raise a meaningful amount of revenue relative to the size of our fiscal challenge by just limiting the value of deductions for the wealthiest americans. >> reporter: he said the biggest obstacle is republicans who refuse to acknowledge that fact. >> there's nothing that stands in the way of that agreement. except for the potential risk that a group of republicans decide, they hold up an agreement because they want to extend tax cuts for the wealthiest that we can't afford. >> reporter: on fox news 2 sunday speaker john boehner was not optimistic. >> i would say we're nowhere. period. we're nowhere. >> reporter: earlier this week house gop members re
host: maverick writes in and said, i see a problem with giving tax credits for hiring unless employees make a living wage. thomas is up next from south carolina on our democrats line. caller: we are down here in foggy south carolina. thank you for c-span. host: thank you. caller: something that has come to my view on a c-span program the other night, two republicans and one democrat were expressing a need for a trust fund to finance infrastructure, which we need very badly, which would put people back to work from some form of tax on the infrastructure that we build. it is the duty of our government to do things for people that they cannot do themselves. the rich can do for themselves. the poor people cannot. i'll hang up and listen. host: let's go to curtis dubay. guest: we keep hearing about infrastructure investment. but the way we do that is federal gaps. the 65 cents of every dollar raised for the federal gas tax actually goes to roads and bridges and highways. the rest of it goes to things that are not supposed to be funded by the attacks. sustainability projects, bike
what they say i see ae small business tax hike president obama is pushing. the president is skipping town also for a quick stop in northern virginia. there he will meet with a middle-class family to press congress to protect those making less than $250,000 per year for a tax increase by raising rates on those earning more. the white house demanding a tax rate increase. republicans will agree to increase taxes through eliminating deductions. even if they figure out taxes, democrats and republicans still have to resolve significant differences on entitlements. take a listen. >> it is not even the right thing to do first and foremost. visit the trophy that republicans want? is that what they want to do what is right to raise the rates? speak of the american people want us to fight to cut spending. it is a fight we are happy to have. >> a house aide said president obama and house speaker john boehner spoke on3 the phone yesterday afternoon, their first conversation a week and since republicans offered $800 billion in new tax revenue and more than a trillion dollars in spending cuts, repu
's the set of automatic spending cuts and tax hikes that can only be averted if our nation's leaders are able to display bare-bones competence and middle school level maturity. (laughter) so the there a deal. >> there's, of course, no deal. >> jon: of course! is there there a prospect for a deal? >> there's not a prospect for a deal. >> jon: of course! (laughter) but the ongoing talks -- >> there aren't even very many talks going on. (laughter) >> jon: damn! you're kidding us! give us something! >> but for the first time there are numbers on pieces of paper from both sides. >> jon: numbers on paper! (cheers and applause) we have numbers on paper! from both sides! (whispering snvpld we're all going to be okay. (laughter) how were -- numbers on paper. how were negotiations being conducted before they decided to put numbers on paper? (laughter) were they communicateding by pheromones like aunts? (laughter) vanity cards? is that how this was going? were the two sides just spray painting a side and hoping it wanders past the other side's office or other equally absurd examples? so tell us about th
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